On November 29, the fuel prices stayed steady for the 27th day in a row. The government announced a reduction in fuel excise duty on the eve of Diwali. The action resulted in a significant drop in petrol prices and diesel prices across the country. The Centre had slashed the price of petrol by Rs. 5 and the price of diesel by Rs. 10. Following the judgement, the national govt pushed states to reduce their fuel-related Value Added Tax (VAT). Several states, the bulk of which are run by the NDA and its allies, announced a VAT decrease, resulting in a further drop in fuel prices.
Petrol prices have been reduced in Punjab and Rajasthan as well. The price of petrol in Punjab was decreased by Rs 16.02 per litre, and the price of diesel was reduced by Rs 19.61 per litre. The total effect of the excise charge and VAT reduction was this. A litre of petrol costs Rs 103.97 in Delhi, while a litre of diesel costs Rs 86.67. In Mumbai, a litre of petrol costs Rs 109.98 and a litre of diesel costs Rs 94.14. As of November 29, petrol costs Rs 101.40 and Rs 104.67 per litre in Chennai and Kolkata, respectively, while diesel costs Rs 91.43 and Rs 101.56 per litre.
Union Minister of Petroleum and Natural Gas Hardeep Singh Puri noted on Friday, November 26, at Republic's 'India Economic Summit 2021' that the price of petrol is now deregulated, as it is controlled by the global market. Hardeep Singh Puri, speaking at the Republic Economic Summit, further slammed Delhi Chief Minister Arvind Kejriwal for not lowering fuel prices despite the Centre lowering excise duty on petrol by Rs 5 per litre and diesel by Rs 10 per litre on November 3. He went on to criticise the Maharashtra administration, stating that the Maharashtra state government cut IMFL duty by half, implying that the state is willing to forego money from alcohol but not willing to lessen the Value-Added Tax (VAT) on fuel.